April 8 event is free and open to the public
The University of Maine Graduate School of Business and the Maine State Chamber of Commerce are partnering to present a webinar titled Succession Planning as an Entrepreneurial Exit. The webinar takes place from 11 a.m. to noon on Thursday, April 8. The event is free and open to the public.
In Maine, baby boomers own 12,790 businesses that employ 108,000 people. Many of these businesses will need to transition to new ownership in the coming years. Recent research from Wilmington Trust found that almost 50% of businesses owned by those 65-plus (and 60 percent of all business owners) have no succession plan. Based on research from Constant Contact, over 40 percent of these owners have all of their wealth tied up in the business.
Faye Gilbert Ph.D., executive dean of the Maine Business School and interim dean of the Graduate School of Business, and Jason Harkins, Ph.D., associate dean of the Maine Business School will lead the April 8 program. Topics will include:
- Identifying types of exit strategies
- Putting a successful system in place for your successor
- Building a support system
“Fortunately, there are a number of exit options available to those that are prepared which greatly increase the value of the firm,” said Harkins. “Strong plans for exits may strengthen the economy of Maine, the wealth of the owners, and jobs for the workforce in our state,” added Gilbert.
“This is an important webinar for Maine business owners and leaders, emerging entrepreneurs, and anyone involved in business operations,” said Ben Gilman, general counsel for the Maine State Chamber of Commerce. “Having a well-planned succession strategy is beneficial for any organization, its employees, and Maine’s economy.”
Pre-registration is required. Please click here for more information and to register, or visit www.mainechamber.org/webinar28.